Diamonds and Dogs
11/30/12Yum! Brands Inc. (YUM)
Yum Brands is not tasting good to investors today, down 9.90% at $67.10. The parent company of KFC, Pizza Hut, and Taco Bell, saw its shares crash after Yum Brands warned of weak China sales. The company said that fourth quarter sales in China will fall, and China made up half of the company's third quarter revenue. China sales are expected to fall 4 percent this quarter. Analysts were expecting a gain of around 2.5 percent and Yum previously had forecast sales to be flat to up in the low single-digit percentages. The 4 percent drop is thought to be a cause of a 9 percent drop in traffic to restaurants in China. Yum! Brand's is still well above its 52-week low of $56.09.
Christopher & Banks Corporation (CBK)
Christopher and Banks is in fashion today, up 24.52% at $4.57. The woman's apparel company saw shares explode after releasing a good third quarter earnings report. Christopher & Banks said its net income was $3.6 million, or $0.10 per share. Last year, the company had a loss $13.7 million, or $0.39 per share. Furthermore, revenue rose 2 percent, to $117.3 million from $114.6 million. The great earnings report pushed the company to a new 52-week high on volume that is 2 million shares more than the average trading volume.